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Mad Money

News/Business. (2013) New.

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TOPIC FREQUENCY

Italy 6, Jim 6, Michael Kors 4, S&p 4, Kramer 4, Us 4, Immunogen 3, Roche 3, Cramer 3, Broeden 3, Johnson 2, Broden 2, Fda 2, Alcoa 2, Apple 2, Genentech 2, Capex 2, Lois 2, Unitedhealthcare 2, Schlumberger 2,
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  CNBC    Mad Money    News/Business.  (2013) New.  

    February 26, 2013
    6:00 - 7:00pm EST  

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. earlier in the show, we asked you to weigh in on some of the fights we were having for example on home depot and decide whether or not the bull or the bear won. well, we've actually tallied the results and you said guy, our home depot bull, made the better argument. well done. it is time now for the final trade, though, so, let's go arne the horn. mike? >> boeing is obviously showing a lot of strength here in the face of all the bad news. i'm going to cover the puts i bought to hedge that. >> dan? >> i'm going to add to some intext shorts. >> general mills. >> karen? >> i like staples. >> and keith, lucky last. >> i like housing. the back door way is through the lawn mowers. brings and stratton. bgg. long. >> i'm mandy drury. have a great night, herb. "mad money" with jim cramer begins right now.
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a bull market somewhere and i promise. >> mad money, you can't afford to miss it. >> hey, i am kramer. welcome to mad money. welcome. trying to make friends, i try to make you money. my job is not to entertain but teach, educate and coach. call me. you keep your eye on italy. i will keep my eye on the united states. you focus on the italian elections. i'll focus on our financial stability. you fret with the leaning power of pooes aand me, i am fretting over home depot. rallied beautifully, dow surging
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115 points, the nasdaq advancing 1.3%, apple up. from the outset, i am not going to ignore the crazy italian elections. we're the comedians and eeg tises that combine to put that country into a world of chaos and a house of pain. i don't want to be dragged in but the stocks over there could be almost 5% rushing in italy last night. we can't dismiss the instability. we have to remember how much europe hurt us as recently as a year ago. excuse me if i put italy in perspective. you bet that the politicians are dysfunctional over there, infan tile even. when i say they're clowns the italians take me literally. the days when the economy can drag us down to the so-called interconnected nature of our banks and theirs, i am pronouncing them over. we are now an unparalleled universe and italy has no fancy game plan for the foreseeable future and has become the antithesis of the entire
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european establishment. soap opera just begun. we know how it ends. badly. we my scoff at our own dismungzal foft gut it makes us look like congress in link an. we have a solid financial santorum headed by bernanke. he is busy trying to get employment down without igniting inflation which how about when he said at one point i am the best on inflation since post war. i want it high five you in bentley trust even if italy where the trades used to run all the time, and let's cut to the chase. all eyes seem on the country with the leaning power pooes aand may i direct your attention to a more important structure, the big orange sign, home depot that reported today and screams, look at me, look what i am doing, what i am saying. here is where you should invest.
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here is what you should focus on, domestic security. rome wasn't built in a day. it was pretty much anile atd r ated in 48 hours and home depot report what may have been the single best earnings report we have seen in 2013. found out we have the best new single -- it was a real housing day. found out we had the best new single-family home sales in january by the most in two decades and learned from schiller, the equivalent of the dow jones home index, leaped in 19 out of 20 regions in the country with many areas showing a gain of 5%. all of this paelz in comparison to what home depot told us in terms of takeaways that can make us money. i can google that fed reserve stuff and the elizabeth warren and you know what this show is about? ka-chink, ka-chink. first home depot gave itself incredibly good news, 7 approximates same-store sales gains. many were looking for half that.
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34% increase in already hefty dividend, $17 billion stock buyback a buyback. they nailed sandy having all the right products in the rate store placement to help e build and the rebuilding as only just begun. it is what they sold and what is the selling well that tells you how things are really going at home depot and in the country. get a listen to this sentence talking about where the company made its money from the ceo, the departments that out performed the average for the fourth quarter were tools, lumber, electrical, outdoor, garden, lighting, indoor, decor, and then, end quote, but other that is performed positively he mentioned i quote again flooring, kitchen, bath, plumbing, hardware, paint, mill work, holy cow, it is incredible. i have never heard so many
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categories be that strong in sins i followed depot since 1988 when i visited the first one in the area. what is driving the strength? he laid it out perfectly asked that question. what are the real drivers here? i quote again. there is additional household formation, additional housing price appreciation, existing housing turnover improving and credit still a break on recovery and we see a lot of positive signs there end quote. the bears have been saying that this is already about as good as it gets, the housing, i don't know, like in the ninth inning and two outs and nobody on. makes the point we're nowhere near a full recovery in housing. we need a further increase and people with still holding back on having children and moving out of the in-laws. we don't have anywhere near the increase he is expecting and credit availability is still way too tight. meaning who is selling those home builders? et cetera what the point of doing that? in other words, you ain't seen nothing yet.
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this from a man called the housing market perfectly. and they may not like the way the home builders called the market. what does all of this mean for the did he pot and us? first of all, a key position in my trust and ran up $3 and change today and you know me. i don't like chasing. i am not going to say, look, buy home depot tomorrow. if it came back i am going to say buy home depot. the stocks in the companies all of those categories. some doing well but pulled back. why don't we put stock to categories. first tools, that's black and decker, down a quick five from the high. they do have european exposure and and that freaks people out. how about charitable trust housing? wi is the larger timber company in the country and we know timber is strong from home depot and they're a huge home builder
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with a stock fallen 12%. electrical, don't have to puzzle too long. it is eaton, etn, especially since it closed on the cooper deal. not real take away in garden because the miracle-gro is in the penalty box because of the history of horrendous misses that put me in the penalty box for liking them, kitchen and bath, those are the plays plain and simple. masco gapped up and now pulled back to a fantastic level to buy given the worries about us howing. fortune brands hasn't pulled back that much and the moen product got a separate callout. i think so that can go back. let's not forget whirlpool. no offense to home depot. when you have flooring and mill work being called out, excuse me, i have to push you in the direction of lumber liquidators.
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someone put two and two together before this because the stock was up three smackers. still down 10% from the high. remember we had them on air? i like those guys. hope the stock comes in for a better chance to buy. just like home depot. if they come in, you know what to do. i know how hard it is out there. you have all sorts of cross current going on and the sequester and the end of the payroll tax holiday and let's face it, we should be taking our cue from home depot, not any of theseth real angst issues and when in doubt go with numbers backed up with cold hard cash like the number from home depot. the italians may be throwing 100 billion into a fountain and over the united states home depot is cleaning money. nobody is saying wait a second, can't have it, that is being made because bernanke is keeping rates low. doesn't count. the money home depot is making does count and the money you can make by falling into the company
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doesn't come with an ast terrific. you take a vacation with it. put your kids through school with it and retire on it all because you didn't obsess over the leaning tower of pisa and instead focus on the best way to make money, investing in the housing cycle of the united states of america and the great people at home depot. how about royal and pennsylvania? >> caller: jim, hello from the philadelphia eagles and phillies and flyers. >> i think it is time for some of those older defensive backs to go. go ahead. what's up. >> caller: unlike the performance of some of those sports i have been really enjoying watching some of the retail companies here in philadelphia. one in particular, five below, i got in at 34 about a month ago and trading above 39 and today i am wondering whether this is something to stay in or take my profits and go?
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>> i like five below and i like the philadelphia and i met the management and done it for many years. we pushed it hard when it came public and after it came public and when they did the secondary. i cannot push you hard at 39. it is up a little too much. weakness, i know. i tell you the number, no, want more weakness, i'm not italian politician. home is where the heart is. in this case it is where you can find profits and don't waste your focus on italy. let others do that. i say when others are fretting, why don't we make money? >> coming up, black gold? pariso oil and gas announced record numbers last night and wall street responded by sending the numbers sky ward. should you fill your tank with crzo? find out in kramer's exclusive just ahead, and later, bargain shopper, the next market dive doesn't have to pull down your
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mood as long as you think of it as a sale. tonight kramer taps the technicals to find mow terrible names for your shopping list when he goes off the charts. plus, wonder drug? immunogen is on the front line in the fight against cancer, the tumor targeting technology that just received fda approval. could a pipeline of other drugs keep you in tip top shape? find out when kramer talks to the ceo all coming up on mad money.
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some stocks don't get the respect they deserve in the market. in this i have to believe they
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will be rewarded with higher valuations or else some other company will recognize the value and buy the whole darn things. take this small independent exploration company that moved towards oil. this year they're drilling like crazy. eagle ford share and the nooi brar aand they get 80% of revenue from oil and they have not been rewarded by the stock market. down more than 20% since the last time we spoke with the ceo of march of 2012. they have been hit with three down grades since november. they fret about the debt load and how it will fund the trilg program and last time we found out how unhelpful the worrying has been. they knocked it out of the park. the revenues came in better than expected astounding 92.7% year-over-year. as the oil reserves were up 58% from a year ago, the oil production is nearly tripled over the last year, up 190%.
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as the stop pop, buck 29 or 6%. i don't understand how this company can stay independent. if the stock stays down, talked to chip johnson, the ceo of crzo oil and gas. welcome back to "mad money." >> thank you, jim. glad to be here. >> chip, you've got a pressing value here of $1.4 billion for the company and the company is valued currently at $900 million. how do you get that value brought out to shareholders? it is the businessest disparity i know in the oil path. >> the proved reserves are worth $1.4 billion with the unproved reserves mostly in the eagle ford and we think all will become proved the number is more like $3.6 billion, so over time we'll be able to prove up those reserves, keep growing production. we just have to manage our capex and hit on our numbers and i think people will start to give us credit for it. >> a lot of the companies in your field said they were going
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to move from natural gas to oil, and they haven't had the success. what made it to you guys have been rapidly able to switch the mix faster than everybody else other than maybe eog? >> i think we were looking in some of those area that is turned out to be very oily and we were hesitant to get in them and saw early result from other companies and because we already had done the land work and were familiar with those areas, we were able to tie up enormous amounts of acreage very quickly and start drilling. >> i want to ask you, where does your oil go? we have been trying to solve this conundrum. a lot of people are e-mailing writing saying we have all of this crude and i am paying the most i have ever paid at the pump. can't they make a lot of money and also i pay less at the pump? can you describe what happens after the oil leaves your well. >> at the eagle ford we sell the oil at the edge of our lease to a trucking company, and there are several of those that are
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very big owned by people like conco-. they haul the oil somewhere by truck or train or barge and get it to a refinery in the gulf coast where we get essentially brant prices because that's what those refineries are competing. our average realized price right now is about $13 above nymex, and that's great for our margins, and then that oil fortunately for the refiners, a lot of that is being made into diesel and sold to latin america and that's where the big profit margins are right now more so than just gasoline into the u.s. >> when i tell people how profitable you are, what i am looking at is the actual cost of what it takes for you to get it out of the well versus what you sell it and it is one of the biggest differentials i have seen. tell the people how much you are making per barrel. >> we can lease and drill the wells for about 20 to $22 per barrel and then it costs about $8 a barrel in operating costs. there are several tax that is go
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into that and that adds up to $2 a barrel and you're up to 30 and we're selling it for 100. our margins are about $75 a barrel in the eagle ford. >> i know the analysts were all concerned about your funding gap. this quarter seems to put to rest a lot of concerns i think about how stretched the balance sheet s. >> what we have done is this will be the third quarter where we have cut our capex down to a more sustainable level. we're still drilling and spending more than our cash flow, but we're not that far above it now, and we have an answer for how we'll fund that. we just feel like if we're drilling wells that have 80% rate of return and our debt is mostly in long life bonds, at 7.5%. that is a pretty good model, and we can hedge our oil. we're 95% hedged this year at prices above $90. >> chip, the other day chesapeake sold assets that were valued at turned out to be far
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less, a transaction, not where you are, far less than what people thought they were worth. have the prices come down for what foreign companies are willing to pay or do you think the chesapeake was a one off situation and if you wanted to go sell a stake in eagle ford you could sell it for a lot of money? >> i think those mississippi lime assets were not as valuable as the hype that was in the market. nearly everybody has been looking at those assets for some time and they have very high operating costs, but with enough scale they can make a lot of money. we stayed away from that, but i think syn pek is very smart in how they always these deals. with very done two deals with indian companies and one with a chinese company in the last six months and they're very technically capable. they have their own price, cost of capital and on the technical side they're as sharp as anybody. i think that was probably a very accurate price. i think the market hyped it up ahead of time.
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right now there are several deals in the market like that that are advertised as billion-dollar deals and probably will end up being $500 million deals. >> congratulations on the quarter. i think puts to rest a lot of the different questions and starts to bring all the value which we know is far more substantial than the price of the current stock. thank you to chip johnson, ceo of crzo oil and gas. good to see you, sir. >> thank you, jim. >> we're looking for this disparity. we saw it with barrett petroleum and abunch a smaller stocks and the copono. crzo is like that. he is bringing out a lot of value. in the interim i think you let the stock run. we'll go above where we had him on the last time. stock is crzo, carrizo oil and gas. stay with cramer. >> bargain shopper, the next market dive doesn't have to pull down your mood as long as you think of it as a sale. tonight cramer taps the
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we go to it every tuesday. the worst day of the last few months jed. worst day. this market has been getting slapped around for a week now. does it made you should pay or accept the fact sometimes we get hit with corrections and the garden variety pullbacks. perhaps use that weakness as an opportunity to buy certain high
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quality stocks and lighten up. there is always a better time to sell than in the vor text of pain. that's where i stand on the issue again. i know many of are you still afraid. when the market gets crushed like it has over the few days, it is scary. if you're full of fear, it is not going to go away because you told you panic is not a strategy. the only way to conquer the fear is with cold, hard logic. we're going off the charts to tell you how this is creating opportunities galore with the help of carolyn broden and always my colleague at the street.com. in our hour of near we're turning to the queen because she nailed this market nine ways to sunday. it is kind of freaky. her track record speaks for itself, herself, itself. broeden called the top s&p 500 within 10 points of where it peaked and last november when it was pummelled in the wake of the election everyone was scared.
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broe den went positive. everybody else was freaking out. she went bullish on this show and told us it would sit 15.10. broden got it right because at a moment when so many others let the emotions make it, she relied on her meth which is mathematical. now that the market has taken a drive, what does her method tell her now? take a look before we get into the weeds with stock. take a look at the s&p 500. her work is based on a series of ratios discovered by the medieval italian mathematician ley nard owe. we talked about this before, the goo i that discovered the key series of repeats in nature that repeat over and over again. they also repeat in the stock market. we were skeptical but the work is too rigorous to ignore.
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she looks at prior swings in a given security and applies the ratios to the swings many order to find key levels for a given stock. here is what's relevant now. broeden says in an up trending market and it is still up trending you will see pullbacks. here is the important thing. they will bottom out at levels that represent projections of prior rally swings and in the meantime temporarily terminate extensions of prior swings and an extension is when a stock repeats an entire move and keeps going higher. basically it is a retrace that ends up being bigger than the swing it is retracing. for example, we saw this happen back when the s&p 500 pulled back created by a cluster of retracement like broeden is talking about. she nailed that level. then the index rallied for a month into september when it peaked at 1.272 extension of a previous swing. that by the way is how broden is able to call the top here in
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september. it was a textbook move out of the playbook. more recently the s&p broke out above the minimum target of 15.10 and once again we're seeing a healthy correction. same thing happened over the summer and it happened in september and we came back and broeden thinks they will be able to come back this time as well as as long as it stays above the november lows. remember, she called this. she called this. she called this. she called this. which in many ways was the toughest of all because everyone was freaking out. now that we're experiencing the correction many are calling for use the decline as an opportunity to pick up top notch stocks at bargain basement prices. using the methodology to show when you to buy i thought was i good idea for the show and she has a number of stocks she likes on a technical basis. here is the big three. you know them. amazon. michael kors. yeah, the handbag company. and slumberjack, the oil service
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company. it is better than dumping everything into the teeth of a sell off because it doesn't feel good. first check out amazon's daily chart. huh. back in january amazon net a major 1.27 -- remember that extension, 1.272 fib nach i extension and surpassed it slightly. remember, these extensions typically give where a stock will top out at least in the near term and since then amazon has been on the decline, not a big decline but a decline. where does the stock become buyable? there are two key zones created by the clusters of the relationships. broeden thinks amazon can find support between 243 and 245, 14.6 below where it is now. there is another zone of support, 23620239. if amazon gets down there hold
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and only then start buying. it is a terrific call. it is amazon from a fundamental basis, i think that's a good call to get in. how about this one? this is my favorite. michael kors. this is luxury handbag stocky alluded to in the newly created gatsby index, not the tom joed index, the gatsby index. take a gander at this chart. kors has been pulling back every since they came within a point. that's where she said it would fail. she sees three zone where it could turn things around. there is a thin floor running from 57/58 to 57.87 although kors pulled back before that today before rebounding in the aafternoon. below there there is a second floor of support. i am sorry, 49.52 to 51. how dooup which is right? you wait for the market to tell you. kors will test and reverse
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higher. based on the work michael kors can have 1 to 9 points which is why we always buy slowly while it is way down. our work is different. it says that the company is on fire. i am a fundamental list, not a technician. given that the stocks has come down hard since the amazing quarter i think the time to get starred buying this one is right now and i am saying that this fibinacci level was the short-term bottom when the stock analysised to go higher. i think what we saw was the successful test. i am just a fundamentalist. take a look at the slumberjack. of course the stock peaks and then pulls back hard. there is a zone of support from 72.64 to 74.80 and if that doesn't hold a second chance to
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$70.38. this is tougher. we decided to take profit from a charitable trust over the last few days and you can follow that along with that precisely because we think oil weak science so proceed nound the stock can go back to this level and will get right back in there, no need for a charitable trust to take that pain. yeah. i think that's where it was when the quarter disciplined last. no stock can keep going up forever. when we do get a correction, the trick is not to panic. i keep telling you that. lock down your emotions and approach things from a cold, logical perspective. that's why i like it so much. she gives you mathematically based levels to start buying high quality stocks like amazon, michael kors and schlumberger on the way down and frankly isn't that a lot better than being emotionally and panicky selling into the vortex, the mall of the decline? let's go to saul in new york, please. >> caller: hi, jim. >> hey, saul.
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>> caller: i was just wondering what you thought about the gap, an 11% drop in the past three months and is it a good entry point? >> we have said that this is a good entry point. now, i frankly am mystified. the fundamentals are good here. i am putting this out because i think when i see this, i get nervous. i said that this stock should bottom here and then go higher and what's happens is bottomed and hasn't gone higher. i am sticking by gap because the fundamentals are good. technically i am not sure but the fundamentals are good and joseph in california. >> caller: how are you doing. >> how are you? >> caller: i am doing good. i am 22 years old, new at investing, and i have a question about yahoo!. there is a new home page for yahoo! and work from home and if it is a buy now stock, if you can help me out with that. >> i think marisa mayor is making aamazing changes. i know it sounds glib but i have done a lot of things with yahoo! over the years and i think
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they're finally getting it together in a way i think could be long-lasting. i am a buyer of yahoo! because of what she is instilling, a new culture where people don't just come and go and constantly have turnover. that's the change that's needed. panicking is never the answer, people. corrections happen. when they do, you have to approach it with logic. broeden's charts show opportunities is the way down. amazon, kors, schlumberger.
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it is time. lightning round. buy, buy, buy, sell, sell, sell. are you ready? lightning round. tyler in west virginia. >> caller: hey, jim. what's happening, hold, sell or buy more. >> i like that situation. remember, it is the best performing bank stock of the year, so probably giving up a little on the profit taking there but i think it is absolutely terrific and it is
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about 10% from the high. i like that. buy, buy, buy. lois in florida. lois. >> caller: boo ya, jim. >> boo ya. >> >> caller: shell. >> you know what, a lot think it is a second rate company. it is down a lot and they think i am a buyer, royal dutch. joey in maryland, joey. >> boo ya to you. >> what's up, partner? >> like to get a shout out to my financial instructor, kirk marts. >> absolutely. go ahead. >> mcdonald's. >> writing off in the mid-80s and downgrading left and right and i said it is buy, buy, buy. why? wow. don thompson, the ceo is doing a miles an hour lack us are job and putting technology to work and i talk about this a lot. i think mcdonald's is a buy. i buy some here and go back to '93.
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it is the the howest stock within this particular environment other than colgate and clorox. go to miguel in puerto rico. miguel. >> booyah, booyah from puerto rico. >> i love that. it is fabulous. what's going on. >> caller: i am just wondering about alcoa, what do you think about that? >> doing a miraculous job and in the end it is still a mineral company and the mineral companies are down. i would tell you i think alcoa can wait. i like the company but the stock i think is kind of -- you get the picture or sound. let's go to brady in ohio. brady. >> yeah. i got stock from the new york stock exchange, atlantic power corporation. >> i don't know why people think that yield is not safe. that's what i keep hearing, the yield is not safe. let's do a little yield safe, not safe, and edification of my own part and then i will make
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the decision. don't have to answer now. oh, no, that is it. that is the end of the lightning round. >> the lightning round is sponsored by t.d.ameritra de. [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ from td ameritrade. living with moderate to semeans living with pain.is it could also mean living with joint damage. humira, adalimumab, can help treat more than just the pain. for many adults, humira is clinically proven to help relieve pain and stop further joint damage. humira can lower your ability to fight infections,
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sometimes stocks don't behave the way you expect they would and you have to look below the surface. consider imgn, developing target the cancer drugs and seek out and kills tumor cells and leaving the rest of the body mostly unharmed. big step up from chemotherapy or radiation and the platform is so good five of the top ten oncology companies out there license it from then. they approved the breast cancer drug that roche is developing in partnership with immunogeneral. the stock barely budgeted and a lot the of people surprised by that x. aren't they about fda approval? mostly, sure, but this was expected and beyond that the scheme for this drug isn't all that favorable. it is still pretty good. something that caused it to be
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hard. they are already run up in anticipation of the news. rallied some 20% since we last spoke to the ceo on december 10th and up again nicely today. we like the pipeline because these are drugs that it wholly owns and a small cell lung cancer treatment we should get the trial date on the second half of the year and could be a big deal. a couple of early stage drugs, for lung and ovarian cancer and lymphoma and you have to understand, these are owned out right. they could be very profitable for the $14 stock. it is about all these caveats. it is a big deal. more important, it is huge news for breast cancer victims. so let's check in with the ceo of immunogen right about this all the way. more about the drug and the company prospects. welcome back to "mad money." >> good to be here. >> good to see you. when i read the times article like others, just cheer, i know people who have this disease and they are very hopeful.
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let me just first congratulations and if people read this, when is it available? what do they need to do? >> roche has indicated they'll have it available within two weeks. it is up to the various physicians offices to be able to get it on the formulary and have it available for the patients. if i can, a quick story, we heard from genentech approved on friday and one investigator contact them because they had three late stage patients and felt this would be beneficial to them and so genentech went and was able to get the material to them the next day and the investigators opened up the infusion center and kept it open on saturday and was able to address the patients. >> this is the real deal and i know people that said i can't believe that the fda approved it, so special, so it is a big break through. >> it is. >> you even on your own conference call later at the end of the year were not saying, look, this is going to be a huge financial win because of the royalty arrangement but at the same time you get european approval later, perhaps, and you
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begin to see some very big numbers and it is still very meaningful for your balance sheet, right? >> absolutely. this will build over time. this is the first approval, so it is for a later stage patients and there is earlier stage programs that are in place right now with roche that will move into ad ju haven't and second line gastric cancers so this will build overtime. we're excited about the patient tied and also about the financial dimensions. it provides an attractive revenue stream to feed some of the other compounds you were referencing that we're developing ourselves. >> it is important, i want people at home to know this, you have been the least hype, least expansive, very cut-and-dried guy. i think it may be exceed by the actual numbers and that's my take but i think it is right. >> i work with very smart people at immunogen and it is not hard to be humble. >> talk about the breakthroughs. imgn 853 for ovarian cancer.
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you said there is updated clinical data we might get later this year. >> it is an early stage study, so we're in dose escalation and we think this could be a very important compound. the target is broadly expressed on certain types of ovarian cancer and none small cell lung cancer. we have a new linker and we're in a constituted by an innovative protocol letting us get up to what we think might be therapeutically interesting doses in time to be able to disclose data middle of the year. ovarian cancer like aggressive breast cancer, like small cell lung cancer, not many good options for those patients. that would be extremely exciting. >> for the imgn 901, the small cell lung cancer, you talked in the conference 59 patients and that you encouraged by the rate of recruitment into the study. please explain to people at home why does it matter you're encouraged by the rate of
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recruitment? why is that significant in is. >> time is money. we need to get the data to understand the potential of the compounds we deal with. recruitment is a big issue. getting patients in to generate the data and understand the quality of the therapeutic and is it something that we want to take forward or is it something that we should move on and look at other opportunities, so getting the first 59 patients starts the clock to look at them six months forward. >> this is progression free survival you talk about. >> exactly. >> a lot of times when i study yours, as a layman, it is harder than if we're just analyzing pfizer. >> okay. yep. >> you have -- there is a conference later this fall where everyone seems to want you to reveal things. is that the kind of protocol of your business that these big conferences, that's when you share the data? >> it really is because you are working with investigators in the work that's being done is very important to them. so you want to be able to
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disclose -- involve them to disclose the full scope of the medical data you're generating. because some of these are owned by us on a proprietary basis we can disclose top line data without compromising the information that would otherwise be made available in a medical conference. >> one last question. you have been straight with us the whole way. you have said that you felt very good about the breast cancer drug. what is your same kind of gut feel about the ovarian and the small cell drugs? >> ovarian, i think there are a lot of innovations in ovarian drugs. some of it is technology. some of it is our understanding of how to approach this particular target. i think that could be very exciting. we may get early insights about its potential. small cell is a big difficult indication. we know that it is tough but there has been no new therapy there for 25 years. so based on what we have seen when we dosed it as mono therapy on its own, and work we did looking at it in combination with existing first line therapy, it was very encouraging, so if we can
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prolong life for those patients, that would be a big win. >> terrific. congratulations again on this big win. i hope that everything works out for the rest of the pipeline and that's dan junior's present and ceo of immuno-gen, a big winning stop doing life saving medicine. stay with cramer. [ whirring ] [ creaking ] [ male announcer ] trophies and awards lift you up. but they can also hold you back. unless you ask, what's next? [ zapping ]
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there such a thing as hedge fund over activism, a lawyer defending countless companies with the poison pill defense and hostile take overs and i agree this time. with the lawsuit against apple's proxy statement, hedge funds, have gone too far in the shareholder democracy initiative. it is not the first. it sure rings true this time. apple is among the greatest wealth creators of all time. why pick on it by suing for not doing enough for shareholders? it is the real lesson. think about it. apple is up 6,300% over the last decade. 6, 300%. isn't there a better target? i got more than 2,000. i know plenty of people cheering for him because of the preferred plan and the stock may go higher. theres nothing written that says it will propel out higher. i think, you want it higher?
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i think a purchase of netflix for 15 billion, nice boost in dividend, take it up to 4%, that would do the trick. we want growth from financials. we want growth from stocks. we don't want financial engineering. einhorn's preferred plan is the essence of financial engineering. i give apple 27 million and a leg up. my plan is better. it is not just einhorn. what happens when they get so big they can target entire companies? how about the targets of the argentina government by hedge funds seeking the 2001 default on the sovereign bonds. i am not against constructive activism. a company told me on "mad money," hey, listen, we like it. aubrey mcclendon, earl simon, they traced him for his ideas and support.
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no doubt he played a protective role but at times the desire to make the numbers requires the managers to make outrageous claims and you can argue the current ceo of apple may be goeded to do something and when the company meets with shareholders i hope so and isn't there some benefit of the doubt given the money they have made for them over the years? why can't they accept it for what it is rather than lambast it as a nar do well. what's the matter with selling it and admitting you got it right for a long time and failed to sell some at the top? why can't the hedge funds suing realize they take a risk and filed. do you think any that does it vocally should be able to crush it in its own right and throw thousands of people out of work? is that a good thing? do we want to annihilate any current shareholders and drive off potential buyers with fierce were warnings? i don't like that. i have to admit i am at a loss where herbal life doesn't sue
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for interference of business but is it really up to ackman to bring down a company? we're in a new year. big funds try to make themselves right thaern just accepting the risk and reality. i am not saying they shouldn't be able to do that. i am not saying they represent a threat to the country and shouldn't be allowed to be as big as they are. i am questioning the behavior of the managers behind them and the righteous indignation of a simple desire to make more money on what turns out to maybe losing position. i am with lipton. this isn't shareholder democracy. it is anxiety and like lipton, i have had enough. stay with cramer. bernanke says no to the is he quester and yes to easy money bond buying. tom coburn will cut the budget with me and cpac is nuts not to let chris christie speak. kudlow at seven.
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